Light Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Light Weapons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global light weapons market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

Light weapons refer to a group of weapons that are designed to be used by more than one crew member but can also be used by one individual under certain conditions. They are predominantly used by defense forces in combat missions and naval operations. It comprises heavy machine guns, mounted grenade launchers, MANPADS (man-portable anti-defense systems), recoilless rifles, anti-tank missile launchers, anti-tank guns, landmines, mortars of lesser caliber, and anti-aircraft missiles. Technologies for guided weapons as well as unguided weapons are used in the production of these weapons. Some of the common materials used in the manufacturing of these weapons include steel and polymers. Defense and homeland security are two of the major applications of light weapons.


Light Weapons Market Trends:
The market is primarily driven by significant growth in the military and defense sector due to the escalating demand for advanced weapons. This can be attributed to the increasing adoption of precision-guided firearms with advanced features, such as targeting, fire control, and advanced head-up display technologies. An increasing number of contracts for light weapons from military forces and homeland security are also providing a boost to the market. Moreover, extensive research and development (R&D) activities conducted by key weapon manufacturers are creating a positive market outlook. The market is also propelled by continual technological advancements in weapon manufacturing, such as the advent of an increased range of anti-tank missiles, integration of laser systems in light cannons, and incorporation of artificial intelligence (AI) features. A considerable increase in terrorism, cross-border disputes, and political unrest between neighboring countries are further contributing to a significant rise in the uptake of light weapons. Some of the other factors contributing to the market include the low production cost of the product, the expanding military modernization programs, and the rising defense expenditure.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global light weapons market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology and application.

Breakup by Type:

Heavy Machine Guns (HMGs)
Grenades and Grenade Launchers
Mortars
Man-portable Anti-tank Systems (MANPATS)
Man-portable Air Defense Systems (MANPADS)
Others

Breakup by Technology:

Guided
Laser Guided
Infrared Guided
Satellite Guided
Semi-automatic Command to Line of Sight
Unguided

Breakup by Application:

Defense
Homeland Security

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BAE Systems plc, FN Herstal (Herstal Group), General Dynamics Corporation, Heckler & Koch GmbH, Israel Aerospace Industries Ltd., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rheinmetall AG, Saab AB and Thales Group.

Key Questions Answered in This Report
1. How big is the global light weapons market?
2. What is the expected growth rate of the global light weapons market during 2023-2028?
3. What are the key factors driving the global light weapons market?
4. What has been the impact of COVID-19 on the global light weapons market?
5. What is the breakup of the global light weapons market based on the technology?
6. What is the breakup of the global light weapons market based on the application?
7. What are the key regions in the global light weapons market?
8. Who are the key players/companies in the global light weapons market?